BTC Flow Analysis — February 08, 2023 BULL
Wednesday · Minute-level BTC order flow from Binance · 7,896,433 trades
Summary
Bitcoin closed at $22,963 on February 08, 2023 after drifted lower (1.20%). Aggressor-side flow netted -2,801 BTC, favoring sellers.
BTC price (blue) and trading volume (cyan bars) per minute. Session shading: Asia (gold 00-08 UTC), Europe (green 08-14), US (red 14-00).
Flow Analysis
Large-player activity detected: 16 bars with trade sizes 3σ+ above normal (peak: 5.7σ) between 00:37–23:38 UTC. Whale flow netted 207 BTC of buying.
The day split in half. Buyers controlled the first 12 hours (+109 BTC), then sellers took over (-2,910 BTC). The reversal changed the character of the day.
Flow and price moved in lockstep (correlation: 0.95). Aggressor-side selling translated directly into price movement with minimal resistance.
Cumulative buying pressure (purple, left axis) vs cumulative price return (yellow, right axis). When these diverge, flow and price are telling different stories.
Session Breakdown
The US session drove 70% of the day's directional flow, with 2,248 BTC of net selling. The other two sessions were comparatively quiet.
The US session posted the largest move. Full breakdown: Asia -0.04%, Europe -0.51%, US -0.66%.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -0.04% | 196 BTC | 6% |
| Europe | 08:00 - 14:00 | -0.51% | -749 BTC | 23% |
| US | 14:00 - 00:00 | -0.66% | -2248 BTC | 70% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
In retrospect, the bull regime was ending. CHOP conditions were 3 day(s) away.
Net flow of -2,801 BTC was elevated at -1.7σ vs the bull-regime average of -386 BTC.
Trading activity surged to +2.7σ above the regime norm (280,056 BTC). When volume spikes like this, the flow data carries more weight.
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